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Warsaw Business JournalTue, 14 Aug 2018 17:03:52 +0000en-UShourly1Retail space supply to grow this year – C&Whttp://wbj.pl/retail-space-supply-to-grow-this-year-cw/
Tue, 14 Aug 2018 17:03:52 +0000http://wbj.pl/?p=121273More than 180,000 sqm of new retail space was completed in Poland in H1 2018, with shopping centers accounting for nearly 80% of the volume, according to the latest MarketBeat report by Cushman & Wakefield. An additional 330,000 sqm of new retail area is expected to be delivered in the country in the second half of this year, which would translate into the highest annual supply level in three years, the study said. Interestingly, as much as 40% of the new retail space set to hit the Polish retail property market in 2018 will be located in small cities inhabited by less than 100,000 people. The total volume of existing retail space in Poland should exceed 14.8 million sqm at the end of this year, according to Cushman & Wakefield data.
]]>Murapol selling Warsaw sitehttp://wbj.pl/murapol-selling-warsaw-site/
Tue, 14 Aug 2018 12:46:07 +0000http://wbj.pl/?p=121270Developer Murapol has signed a conditional agreement for the sale of an over 40,600-sqm plot of land located on ul. Posag 7 Panien in the Ursus district of Warsaw for PLN 40 million net. The transaction is to be finalized later this year provided that the Warsaw City Hall does not exercise its preemptive right to the property. Murapol acquired the site in question in March 2018 for PLN 30 million net. The company planned to develop a residential project comprising 766 apartments (with a total of approximately 33,100 sqm of usable space) in the location, but has now decided to offload the plot citing the “optimization of financial flows” as the main reason. The developer explained that the land cannot be developed any time soon.
]]>Warsaw’s Lumen and Skylight filling up with tenantshttp://wbj.pl/warsaws-lumen-and-skylight-filling-up-with-tenants/
Tue, 14 Aug 2018 11:57:38 +0000http://wbj.pl/?p=121267JLL, the leasing agent for the Lumen and Skylight office buildings in downtown Warsaw, has revealed it brokered lease transactions for a total of more than 8,000 sqm in the properties in the first half of this year. New tenants of Lumen and Skylight include Oerlikon, Regalix Poland, Hitachi Vantara and Greenstone. Michael Page, Tauron Polska Energia, Mars Polska, Loyalty Partner, ITDS Polska and ASB Poland have leased additional office area, while XL Energy Marketing, Hydroinwestycje and Heitman have renewed their lease agreements for space in the buildings. Part of the Złote Tarasy office and retail complex that also includes one of the Polish capital’s biggest shopping centers, the BREEAM-certified Lumen and Skylight buildings comprise a combined more than 45,000 sqm. They are owned by Unibail Rodamco.
]]>Play Q2 profit beats consensushttp://wbj.pl/play-q2-profit-beats-consensus/
Mon, 13 Aug 2018 20:45:15 +0000http://wbj.pl/?p=121264WSE-listed telecom operator Play Communications recorded a consolidated net profit of PLN 159.7 million in Q2, above the PLN 171.8 million consensus and way up by 412 percent y/y (30.6 percent q/q growth).

At end-H1, Play had 12.46 million active clients (up by 81k customers compared to end-Q1) with 8.84 million contract clients (102.5k more than in the previous quarter), while pre-paid customers dropped by 22k to 3.63 million.

On the other spectrum were the absolute rate of return and debt funds which suffered PLN 490 and PLN 404 million outflows respectively.

“The middle of the holidays was undoubtedly a quieter month for the funds than in the last year. It is good news that outflows in any particular segment have turned into a longer trend. It seems that today, with the favorable economic environment for low rates and fast economic growth, it would be impossible,” said Marcin Dyl, president of IZFiA.

According to FinMin data, the three-month saving bonds were the most popular accounting for 37 percent off all such bonds sold last month. Followed by 2-year (31 percent), 4-year (24 percent) papers.

]]>Dunkin’ Donuts leaves Poland. Againhttp://wbj.pl/dunkin-donuts-leaves-poland-again/
Mon, 13 Aug 2018 19:48:16 +0000http://wbj.pl/?p=121258After two and a half years of operations, Dunkin’ Donuts announced that it is closing its Polish outlets effective immediately, the company announced on its social media accounts. This was not the company’s first attempt to operate on the Polish market. The first ended in 2002, after six years of activity. The brand was reintroduced in February…

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]]>EC approves €145 mln funding for Polish gas linkhttp://wbj.pl/ec-approves-e145-mln-funding-for-polish-gas-link/
Mon, 13 Aug 2018 19:46:29 +0000http://wbj.pl/?p=121256The European Commission has approved €145.5 million in funding to build the 168-kilometers gas pipeline Pogórska Wola-Tworzeń. The gas link is part of the North-South corridor of the European Network of Transmission System Operators for Gaz (ENTSOG). “This gas pipeline supported by the EU funds is a new cornerstone to the European energy market and…

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]]>New state-run economic think tank establishedhttp://wbj.pl/new-state-run-economic-think-tank-established/
Mon, 13 Aug 2018 19:42:43 +0000http://wbj.pl/?p=121254President Andrzej Duda on Monday signed the act establishing the Polish Economic Institute. The new institution will replace the current the Institute for Market, Consumption and Business Cycles (IBRKK).

Its purpose is, among others, to provide expertise for the implementation of the Responsible Development Strategy. It will be operating under the PM auspices.

The creators of this idea argued that currently none of the institutions under the supervision of the prime minister deals with the economic aspects of Poland’s development.

According to the Secretary of State in the Chancellery of the Prime Minister, Paweł Szrot the new institution would be strictly scientific and research-oriented, and that the choice of personnel would be made only with“ substantive considerations.”

]]>Amica buyback tender a failurehttp://wbj.pl/amica-buyback-tender-a-failure/
Mon, 13 Aug 2018 19:40:26 +0000http://wbj.pl/?p=121252WSE-listed white goods producer Amica failed to attract any bids from shareholders in its tender offer for the company’s shares, the company said in a market filing. Amica offered PLN 120 per share. Under the company’s buyback program, Amica planned to purchase up to 250,000 own shares for the maximum amount of PLN 30 million…

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